The volatility index tends to rise usually contra to Nifty. Currently at 21 has caused large red candles in hourly time frame today, further upside could be more lethal. A daily close above 22.50 will move it towards 24 and above that towards 30. A rising VIX suggests intra day moves get vertical with gap openings. Getting caught on the wrong side can cause massive m2m damage. It usually cools off after a correction or at an event - since we are into Q3 results - large cap noes and Budget on Feb 1 are some factors to be kept in mind.
PS: This is not a suggestion to go bearish, just a suggestion to cut down on exposure
PS: This is not a suggestion to go bearish, just a suggestion to cut down on exposure
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This is not a good sign for longs (at least in the short term) - sustaining above 22.50
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Tested 24 today. Sustaining above this has usually seen markets correct / sharp moves (which we witnessed today both down and up)
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Daily close above 24.50 would open the path of 32-35 which would make what we are seeing since the past 1 week as a trailer
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Once again trying to push its way above 24. This time a daily close above 24 could take it to 30+
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